$19.7 billion in earnings

$33.2 billion in cash flow from operations and asset sales

9 percent return on average capital employed

Business overview

ExxonMobil is the world’s largest publicly traded international oil and gas company. We have been an industry leader for more than 135 years. The quality, size, and diversity of our integrated portfolio are evident across all three of our global business segments: Upstream, Downstream, and Chemical.

The integration of these three segments provides a distinct competitive advantage, offering unmatched opportunities to grow shareholder value across business lines. With a commitment to operational excellence, disciplined investment, and technology development, we are maximizing the value of every molecule from the wellhead to the customer.

Strategies

  • Innovative technologies drive success
  • Disciplined investments in advantaged, world-class portfolio
  • Integration captures value across businesses
  • Operational excellence maximizes asset value
  • Financial strength provides unmatched flexibility

4.0 million net oil-equivalent barrels per day of production

5.5 million barrels per day of petroleum product sales

25.4 million tonnes of chemical product sales

Business environment

ExxonMobil’s Outlook for Energy anticipates significant changes through 2040 to boost living standards and accelerate decarbonization of the world’s energy system to help address the risks of climate change.

By 2040, the world’s population is expected to reach 9.2 billion people. Over that period, the world’s economy will likely double, helping billions of people join the middle class.

Energy-efficiency improvements will help curb the growth in global energy demand to about 25 percent over the period to 2040. Efficiency gains, along with changes in the energy mix, will also help reduce the carbon intensity of global GDP by nearly 45 percent, as nuclear and renewables, led by solar and wind, contribute nearly 40 percent of incremental energy supplies to meet demand growth.

Natural gas will grow the most of any energy type; oil will continue to play a leading role in the world’s energy mix, even as electric cars become more prevalent. The International Energy Agency estimates cumulative oil and natural gas investment needs may reach approximately $21 trillion between 2017 and 2040. 

$19.7 billion in earnings

$33.2 billion in cash flow from operations and asset sales

9 percent return on average capital employed

4.0 million net oil-equivalent barrels per day of production

5.5 million barrels per day of petroleum product sales

25.4 million tonnes of chemical product sales

Financial highlights

(millions of dollars, unless noted)

Earnings after income taxes Average capital employed † Return on average capital employed † (%) Capital and exploration expenditures †
Upstream 13,355 174,674 7.6 16,695
Downstream 5,597 22,514 24.9 2,524
Chemical 4,518 27,516 16.4 3,771
Corporate and Financing (3,760) (2,073) N.A. 90
Total 19,710 222,631 9.0 23,080

Operating highlights

Liquids production (net, thousands of barrels per day) 2,283
Natural gas production available for sale (net, millions of cubic feet per day) 10,211
Oil-equivalent production ‡ (net, thousands of oil-equivalent barrels per day) 3,985
Refinery throughput (thousands of barrels per day) 4,291
Petroleum product sales § (thousands of barrels per day) 5,530
Chemical prime product sales § (thousands of tonnes) 25,420

† See Frequently used terms.

‡ Natural gas converted to oil-equivalent at 6 million cubic feet per 1,000 barrels.

§ Sales data reported net of purchases/sales contracts with the same counterparty.

Note: Unless otherwise stated, production rates, project capacities, and acreage values are gross.